At the beginning of this year, the debt obligations of the State Oil Company of Azerbaijan (SOCAR) amounted to 3 billion 47 million manats. According to the company's financial report, this is 18.8% more than at the beginning of last year.
Of this amount, 2 billion 391 million manats (78.5%) is owed to the State Oil Fund of Azerbaijan (SOFAZ). This figure is 18.7% lower year-on-year. Funds from SOFAZ were attracted at an annual rate of 3.2-6%, with maturity until April 30, 2032.
Other major debt obligations of the company are as follows:
- Ministry of Finance – 270 million manats (+3%). The debt was attracted at an annual rate of 0.1-3.13% and must be repaid by December 15, 2029.
- International Bank of Azerbaijan (IBA) – 74 million manats (-3.4 times). The debt was attracted at an annual rate of 4.5-4.8% and must be repaid by October 11, 2026.
- Azerbaijan Caspian Shipping Company (ASCO) – 169 million manats (-3.7%). The debt was attracted at an annual rate of 4%, with maturity until the end of 2027.
- Azerbaijan Investment Company – 65 million manats (+3.2%). The debt was attracted at an annual rate of 4% and must be repaid by the end of 2027.
- Agrarkredit – 69 million manats (-1.4%). The debt was attracted at an annual rate of 0.16%, and repayment will continue until January 4, 2041.
In addition, last year SOCAR assumed a debt obligation to Azerbaijan Airlines. The airline provided an interest-free loan of 9 million manats. The debt must be repaid by January 31, 2028.
